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Lowest Income-Tax Countries
The lowest top marginal personal income-tax rates among 50 major economies — headline rates, orientation only.
What this ranking measures
The TOP MARGINAL rate on personal income — the rate charged on the highest bracket, not what anyone actually pays — across the 50 major economies Richbay tracks. National surtaxes are included, and so is the regional or municipal layer where one applies — at its midpoint where it varies by place. It ignores where that bracket starts, social contributions and every deduction, so a low headline rate can still cost more in total than a higher one.
- 1
United Arab Emirates
- Top income tax
- 0%
- Corporate tax
- 9%
Since 2025, large multinational groups (group revenue €750m+) are also subject to the 15% domestic minimum top-up tax (DMTT). No personal income tax and no general capital-gains tax on individuals; gains realised at business level are generally within the 9% corporate tax (from 2023-06, taxable profit >AED 375k).
- 2
Saudi Arabia
- Top income tax
- 0%
- Corporate tax
- 20%
The 20% reaches only the share held by non-Saudi, non-GCC owners; the Saudi and GCC share pays 2.5% zakat on the zakat base (net worth) instead. No general capital-gains tax on individuals; gains realised by companies and some non-resident disposals may be taxed at 20%.
- 3
Qatar
- Top income tax
- 0%
- Corporate tax
- 10%
The 10% reaches the foreign-owned share; entities wholly owned by Qatari and resident GCC nationals pay none, and petroleum operations pay at least 35%. Since 2025 large multinational groups are also subject to the 15% domestic minimum top-up tax (DMTT). No general capital-gains tax on individuals; gains realised by companies are generally taxed under the 10% corporate income tax.
- 4
Bahrain
- Top income tax
- 0%
- Corporate tax
- 0%
No personal/corp income tax (ex-oil/gas); 2025 onwards 15% corp tax on large MNEs (Pillar 2) only.
- 5
Kuwait
- Top income tax
- 0%
- Corporate tax
- 15%
Law No. 2 of 2008, amending Income Tax Decree No. 3 of 1955, fixes the tax at 15% of net taxable income on every body corporate carrying on trade or business in Kuwait — in practice foreign-owned entities, because Kuwaiti and GCC wholly-owned companies fall outside it. Those instead pay Zakat 1%, KFAS 1% and NLST 2.5% on net profit; a foreign-owned entity pays none of the three. Profits from trading on the Kuwait Stock Exchange are exempt. There is no personal income tax and no VAT. ⚠️ Withholding tax is nominally 0%, but a payer must retain 5% of the contract value until the recipient produces a Tax Clearance Certificate.
- 6
Hungary
- Top income tax
- 15%
- Corporate tax
- 9%
A local business tax of up to 2% and a 0.3% innovation contribution are levied on turnover rather than profit and are not added. 15% flat tax; 9% corp tax — lowest in EU.
- 7
Hong Kong
- Top income tax
- 16%
- Corporate tax
- 16.5%
Salaries tax capped by the two-tier standard rate 15%/16% (progressive 2–17% if lower) — top earners pay 16%. Territorial source; no CGT, no estate tax, no sales tax.
- 8
Estonia
- Top income tax
- 22%
- Corporate tax
- 22%
Corporate tax is charged on DISTRIBUTED profit only — retained profit is generally untaxed; the e-Residency programme supports remote setup.
- 9
Czechia
- Top income tax
- 23%
- Corporate tax
- 21%
Gains on shares held for more than three years are exempt (the CZK 40m cap was abolished from 2026); shorter holdings are taxed as income at 15% or 23%.
- 10
Singapore
- Top income tax
- 24%
- Corporate tax
- 17%
No general capital-gains tax, but gains that are trading in nature can still be taxable. Dividends exempt (single-tier); foreign-source income exempt under conditions.
- 11
Brazil
- Top income tax
- 27.5%
- Corporate tax
- 34%
Top marginal rate 27.5%. From 2026 (Law 15.270/2025) annual income above R$600k is subject to a minimum income tax rising to 10% at R$1.2m — a minimum-tax floor, not a marginal rate, so it is not added.
- 12
Egypt
- Top income tax
- 27.5%
- Corporate tax
- 22.5%
Capital gains carry no single rate — 0%, 10% or 27.5% applies depending on the asset, so one percentage would misstate the others.
- 13
Malaysia
- Top income tax
- 30%
- Corporate tax
- 24%
Gains on capital assets are generally not taxed. The exception is real property situated in Malaysia, where disposals fall under the Real Property Gains Tax at up to 30% — which is why this row states no general capital-gains tax rather than a 0% rate.
- 14
Switzerland
- Top income tax
- 32.57%
- Corporate tax
- 7.83%
No single capital-gains rate: gains on privately held movable property (listed shares included) are generally exempt, gains on real property are taxed at cantonal level, and an investor reclassified as a professional securities dealer is taxed on income. Personal income tax: 11.5% federal direct tax (the overall rate above CHF 793,900 of taxable income for a single filer; the band below it is 13.2%), plus 10.40–31.74% cantonal and communal tax — a combined top rate of 21.90% (Zug) to 43.24% (Geneva) in the cantonal capitals (KPMG 2026). Corporate tax: the federal 8.5% is levied on profit after tax and is itself deductible, so it is about 7.83% of pre-tax profit; cantonal and communal tax adds 3.83–12.71%, for a combined pre-tax rate of 11.66% (Lucerne) to 20.54% (Bern).
- 15
Thailand
- Top income tax
- 35%
- Corporate tax
- 20%
Gains on shares sold on the Stock Exchange of Thailand are exempt for individuals; other gains are taxed as income. Capital gains are generally taxed as ordinary personal or corporate income — there is no separate capital-gains tax; gains on SET-listed shares can be exempt for individuals. Foreign income taxed on remittance (2024 change).
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